Global Equities, Multi-Asset PM, Dantes Outlook

Damanick Dantes, CMT

Global Equities, Multi-Asset PM

Dantes Outlook

We invest over a full market cycle, using multi-asset portfolios tailored to each global client, from individuals to family offices.

Built to Endure

Cross Asset Strategy

<ul>
<li>Global equities and commodities contributed to gains throughout our portfolio suite, driven by positive selection effects.</li>
<li>Aggressive strategies continue to outperform their respective benchmarks YTD, especially as tech and crypto stabilize.</li>
<li>Positioning carries over into September, maintaining an underweight to bonds and overweights to global stocks and commodities.</li>
</ul>


Global equities and commodities contributed to gains throughout our portfolio suite, driven by positive selection effects.
Aggressive strategies continue to outperform their respective benchmarks YTD, especially as tech and crypto stabilize.
Positioning carries over into September, maintaining an underweight to bonds and overweights to global stocks and commodities.


Portfolio Update: Selective in Global Stocks, Commodities, Underweight Bonds

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Quanta Services demonstrated a robust financial and operational performance throughout 2025, achieving record results in key metrics such as revenue, adjusted EBITDA, and free cash flow.</li><li>With revenues reaching $28.5 billion, marking a 20% increase from the previous year, the company also reported a record adjusted EBITDA of $2.9 billion and adjusted diluted earnings per share of $10.75, reflecting a year-over-year growth of 20%.</li><li>Furthermore, Quanta generated record cash flow from operations of $2.2 billion and a free cash flow of $1.7 billion.</li></ul>

Quanta Services demonstrated a robust financial and operational performance throughout 2025, achieving record results in key metrics such as revenue, adjusted EBITDA, and free cash flow.With revenues reaching $28.5 billion, marking a 20% increase from the previous year, the company also reported a record adjusted EBITDA of $2.9 billion and adjusted diluted earnings per share of $10.75, reflecting a year-over-year growth of 20%.Furthermore, Quanta generated record cash flow from operations of $2.2 billion and a free cash flow of $1.7 billion.

Quanta Services Is Everywhere—How Utilities, Tech, and Energy Are Fueling a Multi-Cycle Expansion!

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

<ul><li>Dividends are a key component of overall returns.</li><li>The strategy seeks to invest in high dividend and Shariah compliant stocks globally.</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li></ul>

Dividends are a key component of overall returns.The strategy seeks to invest in high dividend and Shariah compliant stocks globally.By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.

Global Income (Shariah) Portfolio (18-Aug-2026)

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Eaton captures AI-driven energy demand at the point of consumption, benefiting directly from rising data-centre power intensity, strong order momentum, and diversified electrification exposure.</li>
<li>Quanta Services monetises the grid expansion required to deliver AI-related power demand, with a record multi-year backlog, and predictable cash flows providing structural downside protection and earnings visibility.</li>
<li>Together, Eaton and Quanta cover the full AI-energy stack, from grid delivery to data-centre power use, combining upside exposure with resilience and reduced concentration risk in 2026.</li>
</ul>


Eaton captures AI-driven energy demand at the point of consumption, benefiting directly from rising data-centre power intensity, strong order momentum, and diversified electrification exposure.
Quanta Services monetises the grid expansion required to deliver AI-related power demand, with a record multi-year backlog, and predictable cash flows providing structural downside protection and earnings visibility.
Together, Eaton and Quanta cover the full AI-energy stack, from grid delivery to data-centre power use, combining upside exposure with resilience and reduced concentration risk in 2026.


2026 High Conviction Idea - Capturing AI’s Energy Backbone: Eaton for Upside, Quanta for Defence

<ul><li>Quanta Services has released their third quarter 2025 results reporting impressive figures with record growth in several financial metrics, including double-digit increases in revenue, adjusted EBITDA, and adjusted EPS compared to the previous year.</li><li>The company's backlog reached a record $39.2 billion, indicating robust demand and a strong position going into 2026.</li><li>This growth can be attributed to heightened activity in their Electric segment and the broader infrastructural needs driven by the transformation within the energy sector.</li></ul>

Quanta Services has released their third quarter 2025 results reporting impressive figures with record growth in several financial metrics, including double-digit increases in revenue, adjusted EBITDA, and adjusted EPS compared to the previous year.The company's backlog reached a record $39.2 billion, indicating robust demand and a strong position going into 2026.This growth can be attributed to heightened activity in their Electric segment and the broader infrastructural needs driven by the transformation within the energy sector.

Quanta Services: Expansion into Power Generation, Renewable Energy Backlog Growth & Other Factors!

United States

Quanta Services, Inc. provides specialized contracting services to electric utilities, telecommunication and cable television operators, and governmental entities.  The Company also installs transportation control and lighting systems and provides specialty electric power and communication services for industrial and commercial customers.  Quanta operates projects throughout North America.

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Quanta Services (PWR US)

Portfolio Update: Selective in Global Stocks, Commodities, Underweight Bonds

Breakdown of our global multi-asset portfolios with performance and positioning. We're overweight stocks and commodities and underweight bonds,...

Damanick Dantes, CMT

Quanta Services Is Everywhere—How Utilities, Tech, and Energy Are Fueling a Multi-Cycle Expansion!

Quanta Services demonstrated a robust financial and operational performance throughout 2025, achieving record results in key metrics such as...

Baptista Research

Global Income (Shariah) Portfolio (18-Aug-2026)

Dividends are a key component of overall returns. The strategy seeks to invest in high dividend and Shariah compliant stocks globally. By adopting...

Crea8

2026 High Conviction Idea - Capturing AI’s Energy Backbone: Eaton for Upside, Quanta for Defence

Eaton and Quanta Services capitalize on AI-driven energy demand, covering grid expansion and data-center power use for diversified exposure and...

Mint Finance

Quanta Services: Expansion into Power Generation, Renewable Energy Backlog Growth & Other Factors!

Quanta Services has released their third quarter 2025 results reporting impressive figures with record growth in several financial metrics,...

Baptista Research

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52-week Range

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Dividend (Yield)

Portfolio Update: Selective in Global Stocks, Commodities, Underweight Bonds

Breakdown of our global multi-asset portfolios with performance and positioning. We're overweight stocks and commodities and underweight bonds,...

Damanick Dantes, CMT

Quanta Services Is Everywhere—How Utilities, Tech, and Energy Are Fueling a Multi-Cycle Expansion!

Quanta Services demonstrated a robust financial and operational performance throughout 2025, achieving record results in key metrics such as...

Baptista Research

Global Income (Shariah) Portfolio (18-Aug-2026)

Dividends are a key component of overall returns. The strategy seeks to invest in high dividend and Shariah compliant stocks globally. By adopting...

Crea8

2026 High Conviction Idea - Capturing AI’s Energy Backbone: Eaton for Upside, Quanta for Defence

​Eaton and Quanta Services capitalize on AI-driven energy demand, covering grid expansion and data-center power use for diversified exposure and...

Mint Finance

Quanta Services: Expansion into Power Generation, Renewable Energy Backlog Growth & Other Factors!

Quanta Services has released their third quarter 2025 results reporting impressive figures with record growth in several financial metrics,...

Baptista Research

Eaton and Quanta Services capitalize on AI-driven energy demand, covering grid expansion and data-center power use for diversified exposure and...